Cook's clients, a young Kentucky girl, an Illinois college student and a New York woman, claimed that the chairs cut off parts of their fingers. Cook argued that the chair's legs are defective and snap forward, "serving as a guillotine" for fingers caught between the chair and the legs.

Cook says the settlements are confidential but that his clients are satisfied.

EARNINGS

Kohl's profit grows by 17%

Kohl's Corp. reported that profit rose 17 percent in the second quarter despite the uncertain economy, in large part due to the success of its store-label brands such as Simply Vera Vera Wang and Food Network.

The company also raised its outlook for the full year, counting on one of its biggest celebrity brands, Jennifer Lopez and Marc Anthony, to help sales.

The department store chain said its net income rose to $303 million ($1.09 per share) in the three months that ended July 30. That compares with $260 million (84 cents) in the same period a year ago. Analysts had been expecting earnings of $1.05 per share.

Revenue was up almost 4 percent to $4.25 billion, but was below the $4.32 billion analysts were expecting. Revenue at stores opened at least a year, a key measure of a retailer's health, rose 1.6 percent.

Nordstrom has strong quarter

Nordstrom Inc. reported a 20 percent increase in profits for the second quarter, saying its wealthy shoppers have gone back to spending. The company also boosted its full-year profit outlook.

Like many luxury stores, Nordstrom has seen sales rebound as affluent customers became more comfortable with splurging again. But the results do not cover the period since the Standard & Poor's downgrade of the federal debt late Friday. That led to more stock market turmoil and growing concerns about a double-dip recession. Analysts worry that the upscale retail market, which was the beacon in the industry, could get squeezed. Some designer stores have seen slower traffic in the past two weeks.

The department store chain, based in Seattle, said it earned $175 million (80 cents per share) in the three-month period that ended July 30. That compares with $146 million (66 cents) in the 2010 second quarter.